B&Q owner Kingfisher is considering moving headquarters out of the UK in an effort to save money.
Kingfisher’s auditor PricewaterhouseCoopers is looking at locations that would allow the company more favourable tax treatment, such as Ireland or Luxembourg.
Kingfisher is reviewing its options and would be the latest in a long line of high-profile UK companies to move its tax domicile overseas. Serviced office provider Regus and asset management company Henderson are among other high-profile UK companies to move out of the UK this year.
Last week, Kingfisher – headed by Ian Cheshire – said that pre-tax profits were up 23 per cent to£214 million in its first half, but warned of tough times ahead for the rest of the year.
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